Focus on Funds: A Bitcoin ETF?

Brendan Conway explains the Winklevoss twins' proposal for an ETF based on the digital currency.

This transcript has been automatically generated and may not be 100% accurate.

I ... he's going to class in the ground or the new new thing I'm Jack Otter and are Barron's dot com on Europe Brendan Conway who writes our focus on funds bought ... and then you're just back from the Value Investing conference ... where you heard the Winklevoss twins talk about ... Bitcoin their pet project after losing the battle to get control of Facebook ... I know ... it when strikes me as as a bit of a Fed hockey explain first what it is and and and what they were saying to ... church that so what is is a digital currencies with the Carling this includes a bunch of code ... that is open source ... was created to to basically create these units ... of value it has value because ... that and I think it has value ... in that sense it's kind of like when we hear the stories on The News ... periodically about the arrival ... of talks in upstate New York ... has value because people think it has value ... and I'm that great they believe that you don't ... need to trust the system can ... lead to the dollar you don't trust the Fed that's been the worst it's not the archives a big ... blanket so that ... you haven't really cannot buy pizza with them ... not so well when called by a column talking about ... their tiny get people to actually invest in these things yes a bit then Jack is they want to build an exchange traded fund ... that holds Bitcoins which ... I have a thing as a non starter the SCC ... just couldn't allow that to mean they they had a hard time convincing guru ETF ... much that some of those exotic is that it's Friday what you will see Jack is you will see people like the Winklevoss twins ... eventually reading separate accounts ... for either investor who want something truly ... it truly exotic ... I aam NE and an truly as the argument goes ... a store of value it's not connected to monetary system ... I see so if I really think things are going to PA Tom it's kind of like investing in gold but I guess it's ... the internet version of go ... gold is is is some vendors analogies that the backers of the day that Kevin Ryan's ... on ... the stock has had all kinds of regulatory problems I mean you have terrorists apparently uses use that money waters can use it ... the idea that the Winklevoss twins made reason regulators are going to ... come together control better control over the system ... aam and all that will be ironed out eventually they Ardi ferry optimistic here